Archive of Dave Says - Weekly Financial Blog
- What Causes Overspending?
Overspending is a choice that is, more often than not, a form of immaturity.... more
- Talk to Mom and Dad
Taking a life insurance policy out on your aging parents may not be in anyone's best interest. Instead of expensive insurance premiums, consider the circumstances and increase your savings as much as possible should it fall on you to pay for funeral services.... more
- Her Birthday Money is Symbolic
- Should Retirees Move Investments to a CD?
When you have reached retirement age, be sure to weigh all options when considering where to keep your investments.... more
- Raising the Rent
Think you could be losing money by keeping rent low, however, concerned you could lose your tenants if you raise it? Consider Dave's advice in order for you and your tenants to come to an agreement.... more
- Talk About Boundaries
Address issues with family members as they arise in a polite, non-combative way. Things should turn around after a short cooling off period.... more
- Planning for College
What are the differences between an Education Savings Account and a 529 plan?... more
- Speeding Ticket Emergency
Consider the importance of something that causes you to consider dipping into your emergency fund.... more
- Selling Sentimental Stuff
Never let stuff stand between you and your family's sense of security and financial well-being.... more
- The Church's Emergency Fund
A good way for a church to save money for an emergency fund would be to view it as a small business. The best way to start would be by cutting back on unnecessary items and making sure adequate funds are available to keep the organization up and...... more
- Condos Are Fine, But Do Your Research
Condominiums can be a good investment as long as you do your homework. Ultimately, consider if you would move your family into the condo you're looking to purchase. Making sure the HOA is properly managed and the grounds are well maintained are also key investigation points.... more
- When to Buy a Better Car?
Instead of buying a new car, drive the minimum car you can until you get past the first three Baby Steps.... more
- Loan Converts to Scholarship
Are the more expensive/prestigious schools worth the extra money in the end?... more
- If It's Paid For, Do You Sell It?
You never know what life is going to unexpectedly throw at you, and an emergency fund is great insurance against that sort of thing.... more
- Dating and the Budget
Avoid the topic of finances on a first date. Wait until a little later in a relationship to discuss financial matters.... more
- Refund or Better Planning?
Don't give the government an interest free loan. Adjust your W2 to minimize your tax return or payment in order to maximize your paycheck and have more money throughout the year.... more
- Hold On For Now
Emergency funds offer a nice cushion in the event of a layoff. By reigning in ex-penses and establishing a conservative budget you can help minimize the need to dip into it. Don't be too quick to sell your largest investment, your home.... more
- Avoid the Gimmicks
When it comes to insurance, Dave says watch out for ones with gimmicks. Let's get details.... more
- Seminary Money
Some thoughts on getting too big a refund from the IRS from Dave.... more
- Ethical Dilemma
If your ethical standards get in the way of your job duties, it may be time for a change. See if Dave's advice helps you in your own dilemma.... more
- Don't Insure Cell Phones
Stick to insuring the big ticket necessities. If anything smaller needs insuring than you may be biting off more than you can chew.... more
- Don't Tithe with Credit Cards
When paying your tithes you are better to stick to debit before turning to putting it on credit.... more
- More of a Long-term Spending Thing
Use age appropriate examples to teach children about saving and spending.... more
- How Much House?
When buying a house, try to keep your monthly mortgage payments to a fourth of your take home pay to keep you from getting in over your head.... more
- Insurance for Young Couple
When choosing life insurance, consider your life and family status when deciding which policy is right for you.... more
- Mixing the Money
Wait until after the wedding and honeymoon to combine finances. Keep saving and maintain your emergency fund. Once the deal is sealed, then you may begin to help pay off each others debts together and save together.... more
- Competency and Integrity
It's acceptable to have a family member as executor of your will so long as he or she has been taken into careful consideration. Informing your family of your intentions will help ease the stress of the process, limiting any disadvantages.... more
- Staying Away From Scams
You spend too many hours of your life at work to be miserable in what you do.... more
- No Arguments
When considering the sale of real estate, be sure to see if the current equity is worth the sale.... more
- Never take an Adjustable Rate Mortgage
Your future will never be what you think it will be. An adjustable rate mortgage could leave you in a bind when it's time to pay it off.... more
- Make it a Fully Loaded Emergency Fund
An emergency fund should consist of three to six months of expenses to be set aside for true emergencies.... more
- Pausing the Baby Steps to Celebrate?
If you are debating on whether or not to take that big celebratory vacation over staying true to reigning in your debt, consider Dave's advice and hold off. Assume control of your finances and celebrate twice as big.... more
- Getting Back on the Wagon
If you're having problems keeping your finances on track, Dave says the answer to your problems rests in one simple question.... more
- Confirmation of Payoff?
If you've paid off a debt, Dave says you should seek a formal letter saying so for your files. Here's why.... more
- Is Loaning or Giving Helping?
If a close friend is asking you for money, should you do it? Dave says you need to ask yourself several questions first.... more
- Start Saving After Step 3
When setting up your budget, is there a way to save to buy a house? Dave says yes. Here's how.... more
- Structure Things Intelligently
If you're still trying to balance your financial boat, move carefully when it comes to any side businesses, especially if your money may be involved.... more
- Holidays and Family
If you have a fracture in some family relationships Christmas may be a good time to take a first step. However, Dave says to keep it simple and honest.... more
- What to do With Restricted Stock?
So what is restricted stock and how do you handle it? Dave has some thoughts.... more
- How do you have a wedding without debt?
If you're planning a wedding, why plan something you'll be paying off for years? Dave says get creative and plan a wedding you can really afford.... more
- Personal vs. Business
It doesn't matter if your debt is personal or business because only you will be responsible for both. It's time to tighten your belt.... more
- A Frank Discussion About Credit Cards
Is it better to use cash or credit cards which you pay off every month. Here's why Dave loves using those dollar bills!... more
- Goals Limiting One Another
Before you decide to go out and buy a home, you need to decide if owning a home is more desirable than other life pleasures you currently enjoy. Here's Dave.... more
- No New Years Debt Next Time?
Giving at the holidays is a wonderful gesture, but do so with your budget and finances in mind.... more
- You Can Catch Up Later
If you are mainly debt free, aside from your home, it is ok to stop contributing to your 401(K) temporarily, until you get back on your feet.... more
- Don't Freak Out
So what happens when a working mom finds out a baby is in her future? Dave says it can be handled with proper planning.... more
- Is Less Than 20 Percent Okay?
Don't rush into buying a house. Wait until you're ready, both financially and emotionally to take that big step.... more
- Where are you in Your Financial Plan?
Don't exceed your spending limits just to own something new. Buy used items until you can afford new.... more
- 7 Steps to Living the Life of Your Dreams
With a lot of hard work and determination, anyone can get out of debt and build wealth to live the life of your dreams.... more
- The Buying Decision
So your job now requires your family to move to another state to live for a couple of years. Buy or rent? Here's what Dave has to say.... more
- The Best Medicine
You earn good money, but by month's end, you're hunting for change to make ends meet. Sound familiar? Dave says to put a stop to this, create and follow a budget.... more
- No, no, no!
When it comes to buying a home, don't even think about it if you're still staring at huge student loans.... more
- The Best of the Three
You have three choices when it comes to purchasing a car. Lease, make payments, or cash. Here's one instance where Dave says cash is king.... more
- Pay Off Debt First
Why you should forget about purchasing a home if you're still paying off back debts.... more
- It Takes Two
If only one partner takes care of family finances it's time to use both heads, especially if you've got money issues. Here is how Dave would fix things.... more
- Put Warranty Money In Your Pocket
If you're considering purchasing a warranty, Dave says think it through.... more
- Does the Right to Collect Still Exist?
When does the right to collect an old bill expire? Let's see what Dave says.... more
- Budget Your Time, Too!
So, you're headed off to college and need to work as well. How do you manage it all? Dave says it really is doable.... more
- Doing the Right Thing
You have heard the phrase, tough love. Dave has the tale of a couple who practiced it with their own son and why it serves as a great example.... more
- Be Wise When Selecting a Roommate
The question is what steps should someone take to find a good college roommate. The answer from Dave is take your time and be prepared to make compromises.... more
- Make the Decision with Her
When you're working your way out of debt, make sure to work the numbers before doing anything that reduces your present income.... more
- Late Fees
Responsibility is a valuable lesson all parents should teach their children.... more
- Forcing Little Brother to Grow Up
Forcing someone to make a lifestyle change is usually not accepted with open arms.... more
- Welcome to Life
Growing up, many of us received an allowance from our parents to do chores. Dave says this is one family tradition he feels needs to stop.... more
- Thankfulness and Boundaries
So what if your future in-laws offer to pick up the down payment on a house for you and your future spouse? As inviting as that sounds, Dave says he has a better idea.... more
- Last Minute Shopping
Dave has some great ideas on how to buy all those Christmas presents without winding up in a sea of debt.... more
- Business License for a Seasonal Job?
When do you need to go to city hall to get a business license? Dave has the answer.... more
- Pursue Nursing Another Way
Before taking on student loans to go back to school, Dave says there are other avenues to consider.... more
- Minor Car Repairs Should Be in the Budget
When you're putting together your monthly budget, Dave says to set aside some extra cash to keep your cars running.... more
- Sell As-Is
When it comes to borrowing to get your house in top condition prior to putting it on the market, Dave says it may not be worth it. Let's take a look.... more
- A Hiring Predicament
When it's time for a critical hire, it requires time, concentration, and a thorough investigation before you act. Dave has some thoughts on this.... more
- Road Warrior Rule
If your job involves lots of time driving, here are some ideas on how to get the best ride for the lowest price.... more
- Going to Extremes is Unhealthy
There are ways to remove extreme from those labeled as extreme spenders or extreme savers. Dave's got some thoughts.... more
- No Need for Professionals
Do you need to pay the expense of staging to sell your home? Dave says perhaps not.... more
- Money and Behavior
If you want to gain control of your money, Dave says start with controlling your own behavioral patterns.... more
- Need a Side Income
When your family income is dramatically cut, is it time to sell your home to get out from under a mortgage? Dave says maybe, maybe not.... more
- What Percentage?
Your home may be your castle, but when you retire, how much of your net worth should be tied up in that castle?... more
- Your Wake-Up Call
More of us are taking in elderly relatives to care for. What this is showing us is we really all need to set up a detailed written family budget.... more
- Don't Need Those Cards
Is a high credit score better than NO credit score at all?... more
- Appreciate Depreciation
When it comes to work vehicles, calculate whether it would make more sense for you to pay off your old vehicle or take the tax breaks on a new one.... more
- Help and Wisdom
If you're about to open your house to a needy stranger, it shows you have a great heart. However, your first need is to protect your family. Here are some steps to consider before taking the plunge.... more
- Paying Stupid Tax
When unexpected expenses such as medical emergencies strike and you can't pay, it's time to start living within a budget. Here's how to get started.... more
- The Rebate Explanation
How do cash-back rebates really work?... more
- Pause Investing for a Luxury?
Where in the Baby-Steps is there room for any additional expenditures?... more
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